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The article explains that U.S. Treasury bond yields have reached their highest levels in approximately two decades, with the ten-year bond yield rising to 5.08% and the two-year bond yield reaching 4.86%. This increase was driven by accelerated U.S. business activity in September, as manufacturing PMI figures and new orders both surged, boosting expectations that the Federal Reserve will continue raising interest rates to combat inflation, with the likelihood of a rate hike reaching about 73% in October. These soaring yields caused a decline in American and European stocks, increased borrowing costs, and also led to higher oil prices and strong currency movements. Gold prices declined as a result of the rising dollar and bond yields.
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